The Securities and Exchange Commission has announced that State Street Bank and Trust Company has agreed to pay $382.4m in a global settlement for misleading mutual funds and other custody clients by applying hidden markups to foreign currency exchange trades.

Barclays will pay more than $13.75m to settle U.S. regulatory charges that it let retail brokerage customers make unsuitable mutual fund transactions, including more than 6,100 fund switches, over a five-year period.

The Securities and Exchange Commission has announced that State Street Bank and Trust Company has agreed to pay $382.4m in a global settlement for misleading mutual funds and other custody clients by applying hidden markups to foreign currency exchange trades.